Stocks tied to semiconductors, aerospace and electric vehicles are likely to be in focus as President Donald Trump begins high-stakes talks with Chinese leader Xi Jinping in Beijing. Trump arrived in China for his second visit , with tariffs, rare earths, artificial intelligence, Taiwan and the Iran conflict expected to dominate discussions. The summit comes as markets remain highly sensitive to U.S.-China trade policy after years of escalating restrictions on technology and supply chains. Analysts and strategists said investors should watch companies exposed to agricultural exports, aerospace and chipmakers — if the two sides reach even modest trade agreements. China could pledge incremental purchases of U.S. soybeans, corn, liquefied natural gas and crude oil, as well as additional Boeing aircraft orders, in exchange for a reduction in fentanyl-related tariffs. "The U.S. would like to see China commit to purchases of aircraft, farm goods and energy supplies but these commitments could hinge on the U.S.'s approach towards Taiwan or possibly some relaxation on tariffs and reduced technology restrictions," said Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions. Boeing Boeing could emerge as one of the clearest corporate beneficiaries from a thaw in U.S.-China relations, given the aerospace giant's long-standing role as both a major American exporter and a recurring bargaining chip in trade negotiations between Washington and Beijing. CEO Kelly Ortberg was among the executives Trump invited to join his trip. Analysts said China could pledge incremental purchases of Boeing aircraft as part of a broader package tied to tariff relief and trade stabilization during the Trump-Xi summit. Any signal of renewed aircraft orders would likely be closely watched by investors after years of strained ties disrupted deliveries to Chinese carriers. "Boeing could be the summit's clearest commercial winner," Bank of America analysts Ronald Epstein said in a note. Ortberg "is traveling with Trump, and a potential Chinese purchase of about 500 Boeing aircraft is on the table, which would be Boeing's first major Chinese order in nearly a decade." BA YTD mountain BA year to date Agriculture and energy exports Investors are also watching for large headline purchase commitments tied to U.S. agriculture and energy exports. Wolfe Research said it expects China to announce new commitments to buy American agricultural products and energy. That could put shares tied to U.S. farm exports, liquefied natural gas producers and oil exporters in focus. Still, Wolfe cautioned investors against becoming overly optimistic about the announcements alone, noting China has a mixed record of following through on prior large-scale purchase pledges. The firm pointed to the 2020 Phase One trade agreement that temporarily eased the first Trump-era trade war but ultimately fell short of its targeted Chinese import commitments. "The numbers will presumably be very large on paper," strategist Tobin Marcus wrote, describing such purchases as "the lowest-hanging fruit" in the bilateral economic relationship. Semis Semiconductor stocks are also likely to remain highly sensitive to any signs the Trump-Xi summit produces a thaw in export restrictions, particularly for companies exposed to China's chip manufacturing ambitions. Analysts at Bank of America said the meeting could emerge as a positive catalyst for ASML Holdings if the two sides strike a compromise involving semiconductor equipment export controls and rare earth supplies. "Both parties have enough at stake to deliver a mutually positive outcome," Bank of America analyst Didier Scemama said earlier this year. "A relaxation of export controls could lead to higher forecasts." Bank of America pointed to a similar dynamic last October, when a Trump-Xi phone call was followed by higher rare earth supply and a one-year moratorium on new semiconductor equipment export bans targeting affiliates of companies on the U.S. entity list. Analysts said that helped drive a sharp recovery in China's semiconductor market during the second half of 2025. ASML YTD mountain ASML in 2026 Meanwhile, Chinese semiconductor equipment makers could initially sell off if export restrictions are eased, according to analysts at Jefferies, who said investors may interpret any thaw as reducing the urgency for domestic chip-equipment substitution in China. "We believe China would not give up on its WFE localization goals, since relying on US tech longer term will still be seen as risky," equity analyst Edison Lee wrote. Still, Jefferies said any weakness could become a buying opportunity because Beijing is unlikely to abandon its long-term push for semiconductor self-sufficiency. Jefferies said Advanced Micro-Fabrication Equipment remains its preferred Chinese semiconductor equipment play. EV stocks Electric-vehicle and battery stocks are also being closely watched. Analysts at Morgan Stanley reiterated an overweight rating on Contemporary Amperex Technology , saying the company's licensing agreement with Ford Motor could serve as a blueprint for future U.S.-China industrial cooperation if relations stabilize following the Trump-Xi meeting. Investors are also monitoring whether the summit produces any broader openings for cross-border investment. Barclays said potential upside could emerge from greater U.S. acceptance of Chinese green-tech investment and further liberalization of China's financial sector for American firms, though both sides are still expected to maintain restrictions in strategically sensitive technologies.
